December 15 (SeeNews) - Romanian online employee community Undelucram said on Thursday that it aims to raise 400,000 euro ($426,159) through European co-investment platform SeedBlink.
Undelucram plans to invest in international expansion and in the development of its own artificial intelligence technology, it said in a press release.
By the end of 2024, the platform aims to reach 4.5 million regional users from currently one million.
Undelucram has already raised 200,000 euro from local venture capital fund GapMinder and another 400,000 euro from Bulgarian fund Sofia Angels Ventures, during the same round. With the addition of targeted funds, the round will reach 1 million euro.
Undelucram is a regional network of online employer branding and recruitment platforms that was launched in 2011. It currently operates in 14 countries in Europe and the Middle East and North Africa. So far, Undelucram has attracted investments totaling 800,000 euro in three past rounds in 2017, 2019 and 2021.
SeedBlink is a Romanian-based investing platform for European tech startups and scale-ups.
GapMinder is a 50 million euro venture capital fund that focuses on Central European technology companies growing rapidly globally and in the Seed or Series A phase.
Sofia Angels Ventures is a 13 million euro venture capital fund backed by the European Investment fund to co-invest alongside angel investors, family offices and other private investors and funds in tech startups in CESEE, at pre-seed and seed stages.
In 2021, Undelucram posted a net loss of 983,505 lei ($212,765/199,705 euro) and a 2.05 million lei turnover, data from the finance ministry indicated.
($=0.9386 euro)